Drax rumoured to be eyed for 550p-per-share bid by GDF Suez or RWE
Drax Group, the London-listed electricity producer, is rumoured to be under consideration for a takeover by two European energy groups, The Times reported. GDF Suez of France and Germany-based RWE, are said to be mulling offers pitched at around 550p (USD 8.38) per share, the newspaper’s market report said, pointing out that such an offer appears possibly too generous.
Drax shares were trading at 390p by yesterday’s close, the 10 February report noted. The company has a GBP 1.566bn market cap.
The Times